• @theonlytruescotsman@sh.itjust.works
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    36 months ago

    If an entire industry is bankrupt, it is no longer needed and has been supplanted by a better industry. And that usually ends in lower prices. Tractors are way, way cheaper than oxen.

    • @Skyrmir@lemmy.world
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      16 months ago

      The industry goes bankrupt because it can’t compete with a government producer that doesn’t pay taxes, leading to a government program running without competition, paid for by deficit funding.

      • @theonlytruescotsman@sh.itjust.works
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        26 months ago

        If you’re a currency issuer then your government programs don’t run on any funding. They are allocated a maximum amount of new currency.

        But modern monetary theory aside, government competitors only eliminate shitty competition, not entire industries, unless those industries are themselves useless like the insurance industry.